Exagen Inc. (NASDAQ:XGN) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Exagen Inc. (NASDAQ:XGN) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $9.88.

Several equities research analysts recently issued reports on the stock. TD Cowen raised their target price on shares of Exagen from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. BTIG Research reaffirmed a “buy” rating and set a $9.00 price target on shares of Exagen in a research report on Wednesday. B. Riley Financial started coverage on shares of Exagen in a research report on Friday, September 11th. They set a “buy” rating and a $12.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Exagen in a research note on Wednesday, November 4th. Finally, Canaccord Genuity Group decreased their price target on shares of Exagen from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday.

Insiders Place Their Bets

In related news, major shareholder Jorey Chernett sold 58,068 shares of Exagen stock in a transaction on Friday, November 13th. The stock was sold at an average price of $4.08, for a total value of $236,917.44. Following the transaction, the insider owned 2,529,436 shares in the company, valued at approximately $10,320,098.88. This trade represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Aballi sold 34,294 shares of the business’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $7.87, for a total value of $269,893.78. Following the sale, the chief executive officer directly owned 805,540 shares of the company’s stock, valued at approximately $6,339,599.80. This trade represents a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have bought 100,900 shares of company stock valued at $568,660 and have sold 213,063 shares valued at $1,084,856. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Exagen

Several hedge funds and other institutional investors have recently modified their holdings of the company. Flputnam Investment Management Co. acquired a new stake in Exagen in the 2nd quarter valued at $1,343,000. GSA Capital Partners LLP purchased a new position in Exagen in the second quarter valued at about $998,000. Man Group plc purchased a new position in Exagen in the second quarter valued at about $778,000. FourWorld Capital Management LLC lifted its stake in shares of Exagen by 61.2% during the first quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company’s stock worth $1,320,000 after purchasing an additional 166,950 shares in the last quarter. Finally, BlackRock Inc. acquired a new position in shares of Exagen during the second quarter worth about $663,000. 75.25% of the stock is owned by institutional investors and hedge funds.

Exagen Trading Down 6.3%

Shares of NASDAQ:XGN traded down $0.28 during midday trading on Tuesday, reaching $4.13. The company’s stock had a trading volume of 3,356,140 shares, compared to its average volume of 581,895. The firm has a market cap of $105.36 million, a price-to-earnings ratio of -5.51 and a beta of 2.25. The company has a quick ratio of 3.18, a current ratio of 3.46 and a debt-to-equity ratio of 1.73. Exagen has a 1 year low of $2.59 and a 1 year high of $9.28. The business has a 50 day moving average price of $7.71 and a 200 day moving average price of $5.13.

Exagen (NASDAQ:XGN) last released its earnings results on Tuesday, November 10th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Exagen had a negative net margin of 25.14% and a negative return on equity of 125.60%. The business had revenue of $18.42 million during the quarter, compared to analyst estimates of $18.34 million. Research analysts forecast that Exagen will post -0.71 EPS for the current year.

Exagen Company Profile

Exagen Inc. is a diagnostics company focused on testing for autoimmune and rheumatic diseases. It develops and provides blood tests intended to help physicians assess and monitor conditions such as systemic lupus erythematosus and other connective tissue diseases. The company’s AVISE test portfolio includes diagnostic and monitoring tests that use proprietary biomarkers to support clinical evaluation. Its offerings are designed to provide information that may help clinicians distinguish among autoimmune conditions and guide patient care.